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China’s shipbuilding industry suffered a severe downturn in this year’s first quarter, with the new ship orders slumping by 70.4% on year to the equivalent of 4.59 million dead weight tons (dwt), according to the latest release by the China Association of the National Shipbuilding Industry (CANSI) on April 18.
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Work on construction sites in and around Qingdao in East China’s Shandong province is slowing as the city prepares to take centre-stage in large celebrations next week to mark the 70th anniversary of the establishment of the People's Liberation Army Navy involving military parades and naval exercises off Qingdao port.
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Production and sales of automobiles in China reversed up substantially month on month in March, with output rising by a huge 81.5% from February and sales by 70.1%, according to the latest data from China Association of Automobile Manufacturers (CAAM) released on April 12.
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Sales of construction equipment recorded by China’s 25 leading excavator makers totalled 44,278 units in March, up by a significant 15.7% on year, according to the latest statistics released by the China Construction Machinery Association (CCMA) on April 8.
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Stocks of finished vehicles awaiting sale across China remained high in March, with the Vehicle Inventory Alert Index at 55.3 last month, marking the fifteenth month in succession that stocks have been above the alert level, although the result was a notable 8.3 basis points lower than in February, the latest statistics from China Automobile Dealers Association (CADA) showed.
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The continuous downward adjustment seen in China’s domestic steel scrap market over the past month is likely to continue in April as steel mills’ scrap stocks may keep rising for some time, market watchers said Wednesday. But they suggested that if the next few weeks witness a sustainable rebound in finished-steel prices, the scrap market could experience moderate rises in mid- to late-April.
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Chinese domestic sales of heavy trucks in the 14- to 100-tonnes class reached an all-time high in March, traditionally the best month for heavy truck business, with total sales reaching 144,000 units, according to the latest release by Beijing-headquartered Commercial Vehicle World (CVWorld) on April 1. The result marked an increase of 4% on year and an 85% leap from February, it noted.
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Beijing is mulling adjusting its regulating efforts in the country’s property market by allowing the local authorities to take the lead so as to maintain the market’ vigour, Ren Xingzhou, a researcher with the Institute of Market Economy, Development Research Center of China, disclosed when addressing the delegates at the 17th International Steel Market and Trade Conference on March 28 in Nanjing, East China’s Jiangsu province.
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China will likely consume 850-900 million tonnes of crude steel this year, Chi Jingdong, vice chairman of China Iron and Steel Association, predicted at the association’s 17th International Steel Market and Trade Conference held in Nanjing on March 28.
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China’s shipbuilding industry suffered a severe downturn in January-February, as the new ship orders slumped 81% on year to 2.35 million dead weight tonnage (dwt), according to the latest release by the China Association of the National Shipbuilding Industry (CANSI) on March 20.
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China’s decision to reduce the value-added tax on manufacturers to 13% on April 1 from the prevalent 16% may not definitely lead to lower prices of ferrous products including iron ore and steel or downstream products such as auto, market sources said on Monday and Tuesday.
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Production of the four major home appliances during January and February among Chinese makers saw two divergent trends emerge, with output of air conditioners, refrigerators, and televisions up on year, while that of washing machines showing a small dip, according to new data released by China’s National Bureau of Statistics (NBS) on Monday.
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Sales of excavators and other heavy equipment across China continued trending upward in February, surging by 69% on year to 18,745 units, according to the latest survey of the China Construction Machinery Association (CCMA) released on March 11. The February total was also 60% higher than total sales in January, the association noted.
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China’s domestic sales of heavy trucks in the 14- to 100-tonnes class reached 75,000 units in February, a seven-year second high for February business though last month’s total was 24% lower than sales in January, according to the latest release by Beijing-headquartered Commercial Vehicle World (CVWorld) on March 4.
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China’s Premier Li Keqiang drafted a few economic development targets including a gross domestic product (GDP) growth at 6-6.5% and proposed a series of measures to support the domestic economic performance for 2019 when delivering his government report at the National People’s Congress annual session on March 5.
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China’s Purchasing Managers’ Index (PMI) for the steel industry fell back by 0.9 basis point from January to 50.6 in February after posting strong month-on-month growth of 5.9 basis points in January from December, according by the official index compiler, CFLP Steel Logistics Professional Committee (CSLPC). Nevertheless, the result was still on the positive side of the 50-threshold which connotes growth, Mysteel notes.
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Steel stocks are piling high at ports and warehouses in East China as unseasonal rains that have continued almost without letup for several weeks are delaying demand, markets sources shared on Wednesday.
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China’s return to work following the Chinese New Year holiday ending on February 10 has witnessed a flurry of announcements from provincial and city governments heralding the launch of public works projects, including many related to transportation infrastructure. The hotter-than-usual infrastructure activity is seen as helping to shore up domestic steel demand in 2019 when pundits are warning that steel will struggle this year.
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Sales of construction equipment achieved by China’s 25 leading excavator makers totalled 15,877 units in January, up by a moderately healthy 10% on year, according to new statistics released by the China Construction Machinery Association (CCMA) on February 15.
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Rains deluging large swathes of China at present and which could continue till late March have triggered steel-market concerns about delays to the resumption of activity at construction sites after the Chinese New Year holiday break.
